Big jump in Bitcoin...

Discussion in 'Alternative Investments' started by Brendan Burgess, 2 Apr 2019.

  1. Brendan Burgess

    Brendan Burgess Founder

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    upload_2019-4-2_13-54-11.png
    This wasn't supposed to happen until after I had closed out my short sell position!
     
    MrEarl, MugsGame and odyssey06 like this.
  2. Leo

    Leo Moderator

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    Some speculation the jump was triggered by people falling for an April Fools story on the SEC approving a bitcoin ETF.
     
    SBarrett likes this.
  3. landlord

    landlord Frequent Poster

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    I assume you won’t sell until it approaches 0 as you predicted. Of course you will maximize your profits by waiting for your price target!!!
    Hold on Bren
     
  4. tecate

    tecate Frequent Poster

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    It very much remains to be seen if this is a tangible move upwards. However, you have to read everything with a pinch of salt when it comes to the market side of crypto - regardless of whether the story is about crypto going up or crypto going down. Publications rush to wheel out a reason - and will snatch at any old drivel ..when in reality, they don't know.
     
  5. Brendan Burgess

    Brendan Burgess Founder

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    Fully agree. It's the same with the stock exchange report in the newspapers. Occasionally, they can attribute a share price rise or fall to results, but often there is no reason so they attribute it to "profit taking" or it being "over sold".
    Brendan
     
  6. MrEarl

    MrEarl Frequent Poster

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    Last edited: 11 Apr 2019
    Hi,

    Perhaps a concerted effort by a number of the bigger players to start getting the price back up (somewhere close to where it once was) ?

    Lets not forget, a lot of people could be sitting on "paper losses" at the moment, as a result of having bought into Bitcoin at higher prices, so they might be holding (and praying) ... while a number of whales could then start trying to shift the price, by buying at what they consider a low price.

    I'm not convinced that this theory could result in the price ever getting back up anywhere near US$20k, but it could have some short term impact, or result in modest occasional increases.
     
    Last edited: 11 Apr 2019
  7. tecate

    tecate Frequent Poster

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    We're probably in an accumulation phase, and there will be a few more 'shakeouts' along the way. We won't see another all time high until way beyond the next bitcoin halving (probably into 2021).